Hyundai, Posco among firms eying opportunities in North Korea

The possibility of North Korea opening up is something many South Korean companies are preparing for, among them Hyundai Group, but also conglomerates like Hyosung and Posco are considering making way to the uncharted market in advance, reports Business Inquirer.

Hyosung, manufacturer of extra high voltage transformers and circuit breakers, appears to have keen interest in North Korea’s power infrastructure, which is in desperate demand, and is expecting new orders in the North, according to Business Inquirer.

Power plant builders like Korea East-West Power Corp. have already come up with virtual plans to build solar, wind and thermal power plants. The company expects to repair old thermal plants in the North. Out of nine thermal plants, eight are more than 30 years old.

Steelmaker Posco has reviewed a series of business opportunities, but has indicated it is too early to say, reports Business Inquirer.